Beat separately until light in color: 12 egg yolks. Beat in gradually 1 pound confectioners' sugar. Add very slowly, beating constantly: 2 cups dark rum, brandy, bourbon or rye. These liquors may each form the basic ingredients of the nog or may be combined to taste. Let mixture stand covered for 1 hour to dispel the 'eggy' taste.
Add, beating constantly: 2 qts. whipping cream 1 c. peach brandy
Refrigerate covered for 3 hours. Beat until stiff, but not dry 8 to 12 egg whites. Fold them into the other ingredients. Serve the eggnog sprinkled with nutmeg.
